This resource provides useful information on why a gift contract may be necessary and important, and how to get started with a gift agreement. The next section, titled “* Gift Contract Template,” contains a gift agreement template based on an agreement created by the Collier County Community Foundation. According to the Pennsylvania Land Trust Association, a written agreement is required for: Some other questions and points from Philanthropy Works to consider when drafting your formal and written agreement: It is also understood and agreed that the donation funds received may be invested by a third party who best determines the investment options for that endowment fund (see point #4 below). The foundation`s spending policy will be the policy established and approved by [your organization`s] board of directors, which likely involves only the use of annual interest income and does not penetrate the fund`s capital to protect and support growth. A donation or donation agreement, not to be confused with a donation acceptance policy, is specifically designed to explain and document what the donor expects and what the nonprofit is committed to. Any gift that reaches the primary gift status defined by your organization should require a donation agreement, even at the monthly donation level. A deep donation agreement can ensure that your nonprofit and donor are on the same page and consistent with different aspects of the primary gift. Donation agreements are filled out and signed to avoid misunderstandings and show your donor that you care about yourself and that they are valuable and important. In accordance with the Law of the People`s Republic of China on Donations for the Public Good and the regulations of the Foundation and other relevant regulations, the donor wishes to make a charitable donation to the UM-SJTU Joint Institute as set forth in this Agreement, and the UM-SJTU Joint Institute wishes to accept such donation subject to the conditions set forth in this Agreement. Just as a not-for-profit organization must keep accurate records of donations received, a donor must keep records of the donations it makes, particularly with respect to tax season. Having an accurate donation agreement and other financial records on file will help keep the nonprofit and donor on the same page.
If, at any time, the donor or his name may jeopardize public trust or the reputation of the institution, including moral turbulence, the institution has the right, with the consent of the board of directors, to withdraw the name or return the donation. The purpose of this document is to serve as a written description of jane and John Doe`s charitable interests (the donors). Donors intend that, subject to future changes to the Sonoma County Community Foundation, this document will provide advice on their intended gift, which will come from the donors` estates (specify if applicable – i.e., IRA, life insurance policy, other). Here is an example of a real estate gift contract created by Tulsa County. The objectives of your written agreement would likely focus on the following: Philanthropy Works published an article on how to get started with a donation agreement focused on the perspective of departmental management. Read it here. The donor, who intends to be legally bound, donated $25,000 (twenty-five thousand dollars) to the university. The donation will be used to establish the Society of the Friendly Sons of St. Patrick Endowed Scholarship Fund in memory of the Irish souls of Duffy`s Cut.
This Agreement, which is duplicated between __ This Deed of Gift (“Agreement”) will be entered into on [insert date here] by and between Morgan State University, an agency and instrument of the State of Maryland located at 1700 East Cold Spring Lane, Baltimore Maryland 21251 (“the University”), and [insert name of entity/person(s) here] (“Donor”). I am pleased to make an irrevocable donation/commitment $to the Baldwin Borough Public Library, Baldwin, Pennsylvania, in support of the library`s renovation and relocation campaign to the Leland Center. I do not impose any other restrictions on this gift. The details of this gift are given below. This donation must be administered by the Baldwin Borough Public Library in accordance with its policies and procedures to the extent permitted by law. Please contact the Donation Policy Administration for additional advice if the donation agreement includes special considerations, such as: This collection provides tips on how to reduce the risk of unfulfilled pledges or rejection of a donation by donors, as well as samples and templates that you can customize to create your own agreements. You`ll also find instructions on how to accept assets other than cash, such as farmland and cryptocurrency. If, at any time, the donor does not behave without due regard to public morality and decency, or if the donor commits an act or becomes involved in a situation or event that tends to humiliate the donor in the community, or that results in the donation in public contempt or scandal, or that materially and negatively affects the charity`s reputation or business, Whether or not the information becomes public, the charity has the right to withdraw the donor`s recognition rights under this Donation Agreement.
These donation agreement forms support University of Michigan librarians who work with library collection donors and may be useful to other Members of the University of Michigan. Strong giving agreements require clear and frequent communication before and after they are signed, says Felicia Murphy-Phillips, senior donor manager at Morehouse College. Murphy-Phillips recommends keeping an eye on donors` concerns through frequent communications so that they feel valued. Here are sample gift agreements for use by UC San Diego Advancement and the campus community. Although “the Donor” in this Agreement, which is intended to promote the purposes and purposes of the Westlock & District Tractor Museum Foundation, which operates as the “Canadian Tractor Museum”, has agreed to donate the following property to the Westlock & District Tractor Museum Foundation, which is hereby referred to as “the Gift”. Examples of donation agreements provided by the Association of Donor Relations Professionals and Tulsa County. A moral clause or moral clause is a small but important segment that you can add to your gift contracts. A moral clause is used to define certain circumstances that would be embarrassing or detrimental to an organization`s reputation and values. According to Lynne Wester, nonprofits need to protect their organizations from unreasonable risks.
Most not-for-profit organizations rely on the goodwill of the public to attract donors. Having a close connection with someone whose name has been severely damaged can tarnish the reputation of the nonprofit and affect their ability to get support. The article by AICPA.org deals here with considerations in the negotiation and design of gift contracts. It is with sincere gratitude that the City of Brantford recognizes the generous sponsorship of the International Showcase in support of the Brantford and Area Sports Hall of Recognition. The donor wishes to make a charitable donation to Arcadia University as set forth in this Agreement, and Arcadia University wishes to accept such donation subject to the terms and conditions set forth in this Agreement. In view of the mutual promises and benefits under this Agreement, the parties hereby agree that: See here an example of a gift contract for the University of Alabama at Birmingham provided by the Association of Donor Relations Professionals. Here`s an example of Lynne Wester`s language from Donor Relations Guru that you should have reviewed by your general counsel and then had in your donation agreement: ConservationTools.org, which is administered by the Pennsylvania Land Trust Association, has been very thorough in creating a useful guide to gift agreements from the perspective of a conservation organization. You can check it here. This customizable template was created by the Collier County Community Foundation and slightly modified.
Be sure to customize section two of the template according to the purpose of your gift contract. Other areas that need to be adjusted are in parentheses. “A gift agreement [or donation] can be used to ensure that one can rely on a donor`s promise, set the expectations of the donor and receiver, and avoid misunderstandings.” – ConservationTools.org, Pennsylvania Land Trust Association This donation agreement (the “Agreement”) will be entered into this ___ day by __ and under ___ is called)]. [Donor Name] Date [Name of NONPROFIT CEO] Date Donor Chairman, Board of Directors This Donation Agreement (the “Agreement”) will be entered into and entered into on the day of 2016 by and between NORTON HOSPITALS, INC., a Kentucky non-profit corporation (“Norton”), and THE NEW ALBANY-FLOYD COUNTY SCHOOL CORPORATION, a public institution and agency of the State of Indiana (“School”). Read these resources for added security when you and a donor sign on the dotted line. .